EDGE

Funding pays, the price is against you. Extended is 0.709% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.775% now, against its 7-day average of −0.067%). If the spread goes back, that is −$71 on $10k: about 4.3 days of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.287% in total) that is about 17 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.287% in total (about 15.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.69 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.